Toronto Stocks Advance; Paramount Resources Jumps on C$3.33B Alberta Asset Sale

Dow Jones11-15

By Adriano Marchese

Toronto stocks were moderately higher Thursday at midday, but sector performance remained mixed in the session. Gains in energy, distribution services and industrial services stocks were somewhat offset by declines primarily in process industries, tech services and health tech stocks.

Canada's S&P/TSX Composite Index rose by 0.4% to 25088.11, and the blue-chip S&P/TSX 60 increased 0.3% to 1509.01.

Shares of Paramount Resources surged by 17% to 31.85 Canadian dollars ($22.75) after it said it has agreed to sell a number of its Alberta properties to oil and gas company Ovintiv for C$3.33 billion. Ovintiv shares also rose on the news, trading 3.5% higher in Toronto at C$43.68.

Other market movers:

Shares of AtkinsRealis Group rose by 12% to C$71.57 after reporting strong performances across its segments that drove third-quarter revenue above expectations in the third quarter.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

November 14, 2024 11:59 ET (16:59 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Gains in energy, distribution services and industrial services stocks were somewhat offset by declines primarily in process industries, tech services and health tech stocks. \n</p>\n<p>\n  Canada's S&amp;P/TSX Composite Index rose by 0.4% to 25088.11, and the blue-chip S&amp;P/TSX 60 increased 0.3% to 1509.01. \n</p>\n<p>\n  Shares of Paramount Resources surged by 17% to 31.85 Canadian dollars ($22.75) after it said it has agreed to sell a number of its Alberta properties to oil and gas company Ovintiv for C$3.33 billion. 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